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Montenegro oks 20 mln euro guarantees for EBRD loan for powerline project

Montenegro oks 20 mln euro guarantees for EBRD loan for powerline project

PODGORICA (Montenegro), March 7 (SeeNews) – The Montenegrin government said it approved state guarantees of 20 million euro ($27.5 million) for the loan arrangement with the European Bank for Reconstruction and Development (EBRD) aimed to finance the construction of the Tivat-Pljevlja powerline.

The high-voltage cable is intended to strengthen the power transmission network in Montenegro, to improve the security of supply and to reduce the potential negative impact of neighboring electricity systems, Montenegrin government said in a statement on Thursday.

Last year, the EBRD approved a 60 million euro loan to finance the construction of the Tivat-Pljevlja powerline.

($=0.7273 euro)

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